Harris Williams Advises TricorBraun on its Sale to Ares Management and Ontario Teachers’ Pension Plan Board

Rhea-AI Summary

Harris Williams announced its advisory role in the sale of TricorBraun, a leading packaging distributor, to funds managed by Ares Management and Ontario Teachers’ Pension Plan. AEA Investors will retain a minority stake in TricorBraun post-transaction. TricorBraun, with over $1.5 billion in annual sales, serves various sectors including personal care and food & beverage, operating from 50 locations worldwide. The transaction further highlights Ares Management's extensive asset management capabilities, which total approximately $197 billion.

Positive

• TricorBraun is North America's largest primary packaging distributor, indicating strong market positioning.
• The sale reflects confidence from Ares Management and Ontario Teachers' in TricorBraun's growth potential.
• TricorBraun's significant annual sales of $1.5 billion demonstrate strong revenue generation capabilities.

Negative

• None.

Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised TricorBraun, a portfolio company of AEA Investors LP (AEA), on its sale to funds managed by Ares Management Corporation’s Private Equity Group (Ares Management) and Ontario Teachers’ Pension Plan Board (Ontario Teachers’). As part of the transaction, AEA will continue to hold a minority stake in the company alongside Ares Management, Ontario Teachers’ and the TricorBraun management team. TricorBraun is North America’s largest primary packaging distributor and one of the largest providers of packaging in the world. The transaction was led by Bob Baltimore, Graham Gillam and Bill Greven of the Harris Williams Specialty Distribution Group and Brandt Carr and Dan Savage of the firm’s Industrials Group.

TricorBraun serves consumer packaged goods companies, from cutting-edge start-ups to the world’s most iconic brands, and is a critical packaging provider for the essential personal care and household cleaning, food and beverage, and healthcare/nutraceutical industries. From rigid to flexible packaging, stock and custom capabilities, and countless options of materials, industries, and markets served, TricorBraun’s range of packaging solutions sets it apart. Serving customers since 1902, TricorBraun has grown to $1.5 billion in annual sales, with more than 1,100 team members in 50 locations throughout North America, Europe and Asia.

AEA was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 90 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have over $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer and services.

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate and Strategic Initiatives. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent, attractive investment returns for fund investors throughout market cycles. As of December 31, 2020, Ares Management's global platform had approximately $197 billion of assets under management with more than 1,450 employees operating across North America, Europe and Asia Pacific.

Ontario Teachers’ is the administrator of Canada’s largest single-profession pension plan, with $204.7 billion Canadian dollars ($161.8 billion) in net assets, as of June 30, 2020. The defined-benefit plan, which is fully funded as of January 1, 2020, invests and administers the pensions of the province of Ontario's 329,000 active and retired teachers.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams’ Specialty Distribution Group has experience across a variety of sectors, including automotive and heavy duty aftermarket; building products; consumer; electrical and communications; foodservice; healthcare; industrial; and technology. For more information on the firm’s Specialty Distribution Group, visit the Specialty Distribution Group’s section of the Harris Williams’ website.

The Harris Williams Industrials Group has experience across a variety of sectors, including advanced manufacturing; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005271/en/

FAQ

What company did Harris Williams advise on a sale?

Harris Williams advised on the sale of TricorBraun.

Who acquired TricorBraun?

TricorBraun was acquired by funds managed by Ares Management and Ontario Teachers’ Pension Plan.

What is TricorBraun’s annual revenue?

TricorBraun has an annual revenue of $1.5 billion.

What role does AEA Investors have in the TricorBraun transaction?

AEA Investors will continue to hold a minority stake in TricorBraun after the sale.

What sectors does TricorBraun serve?

TricorBraun serves sectors including personal care, food & beverage, and healthcare.